New package to help families with bills

A new package of measures to help families save on energy costs and access cheaper deals is being launched by the government, as figures published today show prices set to fall to their lowest level since the invasion of Ukraine.

Ofgem confirmed the price cap the maximum amount a typical household pays for gas and electricity – will fall by £238 from April. Energy Security Secretary Claire Coutinho has welcomed the decrease as a milestone in the government’s work to reduce costs for families.

Long-term measures announced today include examining how standard energy deals should work to pass on the cheapest electricity costs, plus £10 million in funding for companies to test new technologies and tariffs with their customers, to make the most of cheap, low-carbon power.

Coutinho stated:

“Today’s announcement that energy bills will fall by £238 on average will be welcome news for families across the country. This means households will be paying the lowest cost for their energy since Putin’s illegal invasion of Ukraine two years ago.

My mission is to cut costs and get bills even lower so that families can spend their money on the things that matter most to them. Today we’re announcing further measures to slash bills for families and improve access to cheaper, flexible deals.”

Minister for Energy Affordability and Skills Amanda Solloway, said:

“Households will soon see their energy bill fall to the lowest level in two years. And to bring them down ever further, we want more families to able to benefit from the real savings that smart, flexible energy deals can offer.

Over half of British homes already have the potential to access cheap off-peak power through a smart meter but we can all fall victim to not having time to shop around for a good energy rate.

These new measures will ensure people can access these savings even if they’re on the standard basic tariff, so even the busiest families don’t miss out on cheaper bills.”